| |
| |
|
Real Estate Information |
|
|
|
Real Estate Investing - Protect Your Privacy
An irate tenant or disgruntled home-buyer, with the help of a willing attorney, can readily prompt a property search for a property owner in public records. The target of the search becomes someone who has deep-pockets as reflected in real estate assets. Land trusts are available in most states, though they differ in structure and extent of protection. Land trusts are nothing more than a legal entity that hold title to a property. One of the advantages to a land trust is that the owner of record is not you! A land trust is simply transfer of a property out of your name and placed into another entity. The land trust names a trustee to manage the trust, such as your lawyer, a friend, or relative with a different last name. The trust then owns the property, and your name is omitted from the ownership record (which is the deed or title). But you still own the trust. You are the beneficiary of the trust. Obviously, it is a little more complicated than that, but here's the bottom line. If Suzy Suehappy is aggravated with you for some reason and begins looking for your assets of record, she will have a hard time finding what you own if each of your properties are recorded in a separate land trust. Your properties would be listed under the name of the trust rather than yours. Your name would never appear in the records if each of your properties were held in the various names of your trusts. If you owned 123 Main Street where Suzy Suehappy lives, and your name is John Lucky, Suzy might go to the county clerk's office to ask for all the property that John Lucky owns. The search would be fruitless because your name could not be found. Suzy Suehappy would discover that the property is owned by 123 Main Street Trust (or whatever you wanted to name it). She would also find that no other properties are owned by 123 Main Street Trust. But if habitual trouble-maker Suzy Suehappy has a problem with property owner Jane Notsolucky, and finds all of her property of record listings in Jane's name, she has an easier target for a lawsuit. If an actual suit is brought against you by Suzy Suehappy, her attorney can demand in deposition a listing of all your property. However, in preliminary discovery efforts by Suzy or her attorney in perusing the county clerk records, maintaining anonymity can be an advantageous deterrent in asset protection. Once I had a tenant who stumbled onto the staircase landing of his second-story apartment house while drunk, broke the rail, and fell to the ground with some minor injury. He approached a prominent sue-crazy lawyer in town about his case, but I was fortunate not to face an expensive defense of myself because I was not high-profile in the county records. I assume that a review of the records did not disclose my personal name on real estate properties, and I was considered to have no recorded real assets. Asset protection has to be a concern of real estate investing, and the use of land trusts might be a consideration. I find, however, that few attorneys understand land trusts, and need education in this specialty of the law. Phil Speer, Ph.D., started his real estate investing career 25 years ago. Without the availability of credit and using only a $10 bill, he purchased $1 million in properties in his first year, and had accumulated $10 million in properties by his fourth year. http://www.CashinHouses.com/ He was featured in a Wall St.Journal editorial as most successful investor in the Nothing Down Real Estate Movement, and was honored with a Caribbean cruise as top investor of the year. In his hometown of Nashville, Tennessee, he has been a businessman and Human Resources Consultant for 30 years. He is an author, speaker and seminar director. To learn how to profit in real estate investing, even without cash or credit, read his report at http://www.Real--Estate--Course.com/nomoneydown/flipping.html/ Subscription is free to his Fix-up Ezine. He and other contributing authors provide free articles and resources on real estate investing at his online "Academy of Advanced Real Estate Investing Techniques" at http://www.AAREIT.com/
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Why Property Investors can Crash and Burn Many experts say you can't lose if you put your money into Property. Not true. Real Estate Investing Skill Acquisition Real estate investing is not in any list of high school electives. You can't get an accredited degree in real estate investing. Mortgage Broker Training: How to Secure Loyalty From Realtors So you've just returned to your office after delivering an Oscar worthy presentation to a real estate agent. They're impressed and ready to do business with you. Buying Outer Banks (OBX) Investment Property So, you're thinking of purchasing a rental property at the beach. Historically, real estate investments have proven to be a wise investment strategy. Salt Lake City Real Estate From the mountains to the valley, there are many types of Salt Lake City real estate to choose from.Cabins:Cabins nestled into the mountains on the east side of the Salt Lake Valley are a great place to escape for those who have a home in the valley (or nearby). How Much Should I Pay For This House? We probably answer this question for someone a couple times every week. The problem is that they don't have a good formula for determining the most they can pay and still make a profit - so they're scared to make any offer. Good Faith Deposit - Real Estate Transactions In a real estate transaction, a touchy issue is how much trust the seller has in a buyer. The existence of a good faith deposit helps put a seller at rest. Basic Tips for First Time Home Buyers Choosing a first home can be a daunting task, but following a few key steps makes it a lot less confusing.An essential part of the process for every home buyer is to simply do the math. Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations Delaware, and the rest of the original British Colonies, has some land that is leased rather than owned by the residents of that land. Much of it is not evident to the casual observer. Renting a House Renting a house or a room in your home is a great business that millions of people take advantage of to make some extra cash. While many people rent houses each year, not all of them are successful. Russ Whitney and Real Estate Investing Gurus There is curently a huge real Estate boom in America today. Little does the world know that this boom has some to do with all of the real estate guru's out there. Property Investing Secrets 1 When property investing, pay the seller their asking price but negotiate the terms under which you can buy property. You'd be absolutely surprised when property investing at how many sellers will help fund you into their property. How to Prequalify a Buyer When You Sell Your Home By Owner One questions many "for sale by owner" sellers ask is "how can I determine if a potential buyer can afford to buy my house?" In the real estate industry this is referred to as "pre-qualifying" a buyer. You might think this is a complex process but in reality it is actually quite simple and only involves a little math. The Great Real Estate Bubble Quiz You hear it asked on the radio, in the newspapers and on TV."Are we experiencing a value bubble in real estate and is itready to burst?"Do you have an answer for that question? Do you have a guess?Yes, I know the so called experts are lining up on both sides of the question. According To Sellers, Silence Isnt Always Golden' When trying to sell a home, silence isn't always golden especially when you're expecting your real estate agent to call. In fact, it's one of the leading complaints among sellers in the real estate market. Why Should Sellers Be Absent During Showings? If only there were a way to sell your home without letting all those people come through. Unfortunately, the reality is that homes must be shown in order to be sold. Five Things to Help Sell Your Home Fast, and For More Money Selling your home requires some thought and a clear plan of action. Here are five things to consider when you're getting ready to sell your home:1) Know Your BuyersAre most of the homes in your neighborhood being bought by first-time or move-up buyers? Depending on which group will be looking at your home, you'll want to do the things that will make your home appealing to those buyers. Should You Buy a House or a Condo? A big debate these days is whether or not to buy a house, or buy a condo. Most of this debate comes from a lack of understanding about condos, and what they are. Home Sellers Warning for Young Families If you're thinking about selling your home and moving up, do your homework before offering your home for sale. Read the following story to see what can happen to home sellers who don't do their math. Realtors Brainstorm For Business Even though rates are down opening up the market for even the otherwise unqualified buyers, realtors are desperately brainstorming to keep their professional status above in the real estate field.People are learning how to sell their own real estate.
|
| home | site map |
| © 2006 |
